Could Ikkuma Resources Corp Recover After Today’s Gap Up?

 Could Ikkuma Resources Corp Recover After Today's Gap Up?

The stock of Ikkuma Resources Corp (CVE:IKM) gapped up by $0.01 today and has $2.30 target or 171.00% above today’s $0.85 share price. The 8 months technical chart setup indicates low risk for the $84.11M company. The gap was reported on Nov, 11 by Barchart.com. If the $2.30 price target is reached, the company will be worth $143.83M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 115,400 shares traded hands. Ikkuma Resources Corp (CVE:IKM) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

Another recent and important Ikkuma Resources Corp (CVE:IKM) news was published by Marketwired.com which published an article titled: “Ikkuma Resources Corp. Announces $7.0 Million Bought Deal Private Placement of …” on April 27, 2016.

Ikkuma Resources Corp. , formerly Panterra Resource Corp., is a Canada gas and oil exploration and production company. The company has a market cap of $84.11 million. The Firm focuses on developing properties in the foothills of Alberta and British Columbia. It currently has negative earnings.

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